“The freight on European route and emerging market has been raised and there will be additional increase on the major routes in April and May. That will make Hanjin Shipping return to profit in the second quarter." Mr. Kim Young Min, a CEO of Hanjin Shipping, expressed his confidence at the press conference held on 2 April.

Last month Hanjin raised the freight on European route by 700 dollars per TEU and is going to increase it again within this month. As for Pacific route, the freight was also raised by 300 dollars as of 15th of March and is scheduled to have further increase on 1st of May.

Mr. Kim said "Another freight increase on Pacific route in May is most important considering the contract with the customers is made on a yearly basis. A excessive fall in the freight last year has made the shippers nod through the increase." Hanjin fixed this year's sales at 11 trillion Won.

That day Hanjin had a ceremony to commemorate the calling of 'Hanjin Sooho', which is a 13,100 TEU class container vessel named after the late president Jo Soo Ho, at Busan New Port. As the first among 9 container ships of 13,100 TEU class that are to be delivered to Hanjin, 'Hanjin Sooho' will be deployed on Asia-Europe route from this month.

Even the securities analysts forecasted Hanjin's turning a profit in the second quarter. A staff at Daewoo Securities predicted "The first quarter will probably go through business loss, however, it will return to profit from the second quarter propelled by the freight increase."